Alger to brand Spectra funds

Fred Alger Management Inc. of New York is consolidating all of the open-end mutual funds under the Alger brand. The changes are expected to be completed in September. The changes include the integration of the five Spectra no-load funds into The Alger Family of Funds. The Spectra funds will now be marketed under the Alger brand and will be offered through retirement plans, advisers and other intermediaries. Established shareholders in the Spectra funds will be “grandfathered in,” allowing them to continue to purchase and exchange shares at net asset value. In another name change, The China-U.S. Growth Fund will be renamed to include “Alger” and, effective July 1, the Alger SmallCap and MidCap Growth Fund will be renamed the Alger SMidCap Growth Fund to reflect the more commonly used name for this asset class. These changes will not affect how the portfolios are managed. Established shareholders of the Spectra funds will be allowed to purchase Spectra funds, Alger funds and The China-U.S Growth Fund on a load-waived basis. Shareholders will also be allowed to exchange assets between those funds, subject to any prospectus restrictions. Fred Alger Management has more than $14 billion in assets under management.